Is Wells Fargo Retirement Services for sale?

Principal Financial Group says it has closed its purchase of the Wells Fargo’s Institutional Retirement & Trust business. … Principal Chairman Dan Houston says Principal broadens offerings in retirement and asset management, doubling the size of its U.S. retirement business with the deal.

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Additionally, did Wells Fargo sell their retirement accounts?

Principal Financial Group closed the acquisition of certain assets of the Wells Fargo Institutional Retirement and Trust business (IRT) on July 1, 2019. The transition, transfer, and conversion of IRT business operations, employees, and clients will occur over the following 12-24 months.

Subsequently, who took over Wells Fargo Retirement?
Principal Financial Group

Herein, what happened to Wells Fargo retirement Account?

Wells Fargo is saying goodbye to its retirementplan business as the bank continues to grapple with penalties, legal fees and a backlash over its scandals. Principal Financial (PFG) signed a $1.2 billion deal on Tuesday to acquire Wells Fargo’s (WFC) institutional retirement and trust business.

What happened to Wells Fargo 401k?

Wells Fargo & Co. on Friday reversed its decision to end matching contributions to 401(k) retirement plans of employees earning $250,000 and higher.

Why is my Wells Fargo 401k unavailable?

Access to your 401(k)’s employer contributions may be denied because your tenure was too short for those funds to vest to you. Access to the entire balance may be blocked, at least temporarily, due to issues related to your departure or a change of record keepers for the plan.

Is principal owned by Wells Fargo?

Principal Financial Group Inc – Principal Completes Acquisition of Wells Fargo Institutional Retirement & Trust Business.

Is principal a good 401k provider?

Historically, Principal has touted their 401k services as exemplary, and most 401k investors believe they are making acceptable returns in their 401k retirement plans. … All of these managed/sub-managed fees eventually end up in Principal’s general account.

Is Wells Fargo a good 401k?

Wells Fargo 401k Plan has high ratings on various platforms, including the 3.6-star rating on Glassdoor and 80/100 on BrightScope. The 401k plan offered by Wells Fargo falls in the top 15% of plans for Account Balances and Total Plan Cost.

Is Principal Financial Group a good company?

Principal Financial Group Pros: Principal Financial Group is a well-established and financially strong company with high ratings from A.M. Best, BBB, and numerous other financial ratings bureaus. Seen as having competitive rates and favorable underwriting for people with common medical conditions.

Who is Principal Financial Group?

Principal Financial Group is an

Type Public
Industry Insurance, Financial Services
Founded 1879
Founder Edward Temple
Headquarters Des Moines, Iowa , U.S.

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